Aviva plc Selects Wipro Technologies as a Strategic Partner for IT Offshoring Services.Business Editors BANGALORE, India--(BUSINESS WIRE)--Feb. 17, 2004 Aviva plc, the world's seventh-largest and UK's largest insurer, with principal business activities in long-term savings, fund management and general insurance has selected Wipro Technologies Wipro Tech (NYSE: WIT) is an information technology service company established in India in 1980. It is the global IT services arm of Wipro Limited (in operation since 1945, incorporated 1946). as a strategic partner for offshore IT outsourcing. Under a long term agreement, which will be finalised in early 2004, Wipro will provide a range of IT services covering application development and maintenance, package implementation and testing. "We bring strong insurance domain expertise, integrated service offerings and execution excellence to our insurance customers. This is a clear differentiator for us in providing increased value to our clients like Aviva." remarked Mr. Soumitro Ghosh, Vice-President, Insurance Solutions at Wipro Technologies. About Wipro Limited Wipro Limited is the first PCMM PCMM People Capability Maturity Model PCMM Packet Cable Multi-Media Level 5 and SEI CMM SEI CMM Software Engineering Institute Capability Maturity Model Level 5 certified IT Services Company globally. Wipro provides comprehensive IT solutions and services, including systems integration, information systems outsourcing, package implementation, software application development and maintenance, and research and development services to corporations globally. In the Indian market, Wipro is a leader in providing IT solutions and services for the corporate segment in India offering system integration, network integration, software solutions and IT services. Wipro also has profitable presence in niche market A niche market also known as a target market is a focused, targetable portion (subset) of a market sector. By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. segments of consumer products and lighting. In the Asia Pacific and Middle East markets, Wipro provides IT solutions and services for global corporations. Wipro's ADSs are listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , and its equity shares are listed in India on the Stock Exchange - Mumbai and the National Stock Exchange, among others. More information is available at www.wipro.com. Forward-looking and cautionary statements Certain statements in this release concerning our future growth prospects and our ability to successfully complete and integrate potential acquisitions are forward looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward looking statements. The risks and uncertainties relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc these statements include, but are not limited to, risks and uncertainties regarding our ability to integrate and manage acquired IT professionals, our ability to integrate acquired assets in a cost effective and timely manner, fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns Noun 1. cost overrun - excess of cost over budget; "the cost overrun necessitated an additional allocation of funds in the budget" cost - the total spent for goods or services including money and time and labor on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration immigration, entrance of a person (an alien) into a new country for the purpose of establishing permanent residence. Motives for immigration, like those for migration generally, are often economic, although religious or political factors may be very important. , our ability to manage our international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. , reduced demand for technology in our key focus areas, disruptions in telecommunication networks, , liability for damages on our service contracts, the success of the companies in which Wipro has made strategic investments, withdrawal of fiscal governmental incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities and Exchange Commission. These filings are available at www.sec.gov. Wipro may, from time to time, make additional written and oral forward looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. Wipro does not undertake to update any forward-looking statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that may be made from time to time by or on behalf of the company. For further information, please visit our websites at www.wipro.com, www.wiprocorporate.com and www.wipro.co.in. |
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